Atrium, a San Francisco-based company digitising legal documents, has raised $65m in venture funding led by Andreessen Horowitz.
Other investors to participate in the round of fundraising included General Catalyst, YC Continuity Fund and Sound Ventures. Following the round, Andrew Cen and Michael Seibel will joining the company’s board, with Marc Andreessen joining as a board observer.
Atrium chief executive Justin Kan said in a blog post: “We’ve always been focused on becoming the most client-centric platform for legal applications for fast growing companies and it feels great that we’ve received such strong support from others.
“Andreessen Horowitz is one of the world’s most prestigious VC firms. They have backed amazing companies and founders, making early investments in companies including Airbnb, Facebook, Lyft and Skype.”
Atrium emerged from stealth a year ago with a $10.5m party round of funding before entering into Y Combinator.
Since launching 14 months, the company has helped over 250 clients raise a total of over $500m in primary financings. IN the summer, Atrium acquired Tetra, an artificial intelligence company, to help build its technology platform.
“As I’ve been known to say, a round of financing isn’t a destination: It’s a means to continue to grow and deliver better service. However, this one feels especially great, and we’re thrilled our new partners will help us along our journey to make Atrium the preferred law firm for high-growth companies,” Kan added.
Earlier this year, Andreessen Horowitz led Very Good Security’s $8.5m Series A round. Founded in 2016, VGS lets companies collect, secure and exchange sensitive data without the risk or liability associated with storing it on their own systems.
The investment came just weeks after the venture capital firm backed Actifio, an enterprise Data-as-a-Service (DaaS) software provider. The company raised $100m from of Crestline Investors, North Bridge Venture Partners, 83North, Advanced Technology Ventures, Heritage Group, among others.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
